How much is BT worth?
It has assets of 65 billion but the Financial Times says 'BT will be a difficult animal to price. It is thought all BT's holes in the ground, ducts and cables are bound to be undervalued in a sale offer. much is a gas filled hole likely to inspire the public imagination!
How much is BT likely to be sold for?
The FT suggests a price based on half the assets 'E2-3 billion'. The city institutions are already collecting over BT's starved body like a flock of vultures. They remember the sale of Amersham International for £71 million. The market undervalued by 223 million. The profit by the banks and finance institutions came out of our pockets. eager anticipation for the next hand out from the tax payer. 51% of BT amounts to the biggest share issue ever offered to the world's markets and the biggest de-nationalisation in British history.
But won't the money made from the sale be used to cut our income tax?
The assets of BT belong to every worker and government could spend the E2-3 billion it is likely to make by giving us all a 2-3p tax cut for one year. would then afford to pay its £1.5 billion contribution to the pensions scheme has not been answered. If the government sticks to its commitment to paying this money then it can only cut the standard rate of income tax by lp for one year.
Yes but the taxpayer cannot afford to finance the modernisation of telecoms?
Why not? If an integrated socially useful efficient communications system is going to provide so much profit for private industry can it not improve the assets of workers? The French PTT. been successfully and rapidly modernised within 10 years. After all if we can afford to buy cruise missiles which are neither efficient' nor make a profit, we can afford an efficient telecommunications system. Won't the workforce be better off under private management?
The Financial Times says that in order to privatise BT and reap enormous profits BT's *25 percent over manning will have to be cut*. A confidential Department of Industry Paper forecasts the axing of 45,000 jobs in BT. That will mean 1 in 4 of the work force in the next 5 years. The vision of the dole queue will hardly be seen as a good thing for the BT workers or the working class.
The workforce will have a chance to buy shares and therefore control the company, won't they?
What good will E100's worth of shares be if you are on the dole? The interest will not After all how showed quickly that this was No wonder the city waits in The problem of how BI a nationalised industry, has THE COAL BOARD and the Tories are trying to turn miners against each other. They are frantically trying to drive a wedge between 'efficient' areas and 'loss-making' areas like South Wales or Scotland.
But the decision by the special delegate meeting to fight on the question of pit closures means that it possible to build a united national front to defend Jobs. STRET have been created by the bonus system can be overcome, through fighting for retirement and rate protection.
Last week the Coal Board confirmed that Sherwood colliery in Nottinghamshire will be closed number of other collieries time. in the area are nearing we end of their reserves and are clear 1UE closure.
Plans for 'mergers' are rumoured to be in the offing. This shows only too clearly that no area is safe.
"The Crunch' is the iront page headline in th Miner. The NUM's ballo is a crucial one. If the union fails to win a 'Yes' Tyrone O'Sullivan (second from right) picketing during health workers" day of action' vote, there is no doubt that Coal Board boss Norman "sod-all" Siddall will start wielding the axe. A vote will mean that it will be an uphill task to tight pit The Coal Board and the Tories will be calling the shots.
Since the February 1981 strike, pits on the hit list have been closed. Now 50 to 60 are National action is vital to stop this threat. Victory is by no means assured.
The next week will be decisive. Thousands of militants will be attending rallies taking place up and down the country. But victory depends on the campaign depends on whether the in the campaign is taken into the less militant areas in a big way. accide whether militants can tip year Gormley allowed negotiations drag on allowing other groups ol workers to De picked off one by one.
Today we are in a dif ferent ball game. If the miners vote to take on the Tories over Jobs and Day they won't be fighting alone. Steel workers, Telecorkers well is workers in British Leyland Telecoms and Vauxhall are going inaction alongside the healthworkers The miners' solidarits the healthworkers gave a lead to the whole Labour movement. 'Yes' vote by the miners would give a big boost to the growing resistance to the Tories. It could help wanstorm days or action into movement that could sweep the Tories out of power That's why, as militant In the pits working flat out this week for *Yes SYULC they won't be just fighting fo miners" jobs and for their union they will be fighting for the whole working class.
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means To Telecoms